September 2018

06Sep

What are the retirement ages around the world?

Retirement ages, or the age when some sort of government pension can be received, varies around the world. The OECD average for a normal pension age is currently 64.3 years for men and 63.7 years for women. While life expectancy has risen in many countries and governments grapple with ageing populations, any attempts to make people wait longer to collect benefits are usually met with fierce opposition, as Russia and Australia found out recently. Read more sbs

September 6, 2018
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05Sep

Russia. Why Putin’s Pension Plans For Russia Could Put His Own Happy Retirement At Risk

He is a leader who has built his entire political image on being a decisive, strong man of action -- yet, early in his fourth term as Russian president, the passage of time presents Vladimir Putin with challenges he has not previously faced. Firstly, there is a time limit on Mr Putin's own career. The Russian constitution only permits a president to serve two terms. Mr Putin did this between 2000 and 2008, at which point the constitution was interpreted...

September 5, 2018
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August 2018

31Aug

Russia Continue To Explore Blockchain, This Time It’s Pensions

Russia, they are on the fence about cryptocurrencies, but when it comes to blockchain technology, authorities and services over there see blockchain as a favourable innovation. Latest reports from Russia suggest that the Russian State Pension Fund (PFR), a social service within Russia, are set to start working with blockchain technologies in order to make the most of smart contracts, to issue employment contracts between employers and new employees. According to Cointelegraph, this new project plans to: “Introduce smart contracts to...

August 31, 2018
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30Aug

Russia. Putin softens pensions reform after his popularity ratings slip

The Russian president toned down the controversial proposals in a special address to the nation on Wednesday. He said women would be able to retire and claim their pensions at 60 instead of 63, as originally proposed - still a leap from the current age of 55. He also outlined several other concessions on the reform, although the changes to the retirement age for men, which will go from 60 to 65 in the new proposals, were unaltered. In a rare...

August 30, 2018
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29Aug

The Kremlin pushes pension reform, but the Russian public pushes back

That was the year that the government's plans to reform the Soviet-era system of social benefits were derailed by mass disobedience from veterans and pensioners. It is probably the memory of those protests that has kept Russia from considering raising its pension ages for more than a dozen years. But now, the long-taboo issue of pension reform is back on the table. A law working its way through the State Duma, the lower house of parliament, would significantly raise the...

August 29, 2018
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08Aug

Russian pension reform sparks protests as Putin’s ratings fall

Pension reform is genocide!” “You deprive us of our pension – we deprive you of your authority!” “We don’t want to die working!” These were only some of the slogans shouted by Russian protesters during mass rallies last weekend, held in response to a new reform that will rise the retirement age in Russia. From Moscow to St Petersburg to Siberia to the country’s Far East, the rallies were a nationwide phenomenon across the world’s biggest country. For Vladimir Putin, the...

August 8, 2018
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July 2018

31Jul

3 arrested after Russian opposition rally on pension age

MOSCOW (AP) — Three Russian opposition leaders were detained by police minutes after a demonstration to protest a government plan to raise the age for receiving state retirement pensions ended Sunday. The demonstration in central Moscow had been authorized by city authorities and attracted thousands of people. No reason for the arrests was immediately given. Oleg Stepanov, a top aide to Russian opposition leader Alexei Navalny, reported his detention on Twitter. He posted a photo of himself and the two others...

July 31, 2018
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30Jul

Protesters chant anti-Putin slogans at Moscow rally against retirement age plan

Thousands protested in central Moscow on Sunday against a proposed increase to the retirement age and the crowd chanted slogans critical of President Vladimir Putin whose approval ratings have been dented by the bill. The rally organized by the opposition Libertarian Party chanted “Putin is a thief” and “away with the tsar,” slogans common at anti-Putin and anti-government protests. The retirement age proposal is politically sensitive for Putin, who was re-elected in March, because it has prompted a series of protests...

July 30, 2018
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January 2018

15Jan

The Standard of Living: Incomes, Wages and Lending in Regions

By Alexandra Burdyak (Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute for Social Analysis and Prediction) & Elena E. Grishina (Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Social Analysis and Forecasting) In January–October 2017, households’ real disposable cash income fell by 1.3% as compared to the relevant period of 2016. It is noteworthy that real accrued wages rose by 3.0%, while the real size of assigned pensions, by 3.9%. During...

January 15, 2018
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December 2017

14Dec

Russia’s central bank to form biggest non-state pension fund with $9 billion merger: sources

Russia’s central bank is preparing to merge three pension funds of bailed out bank Otkritie to create the biggest non-state pension fund in Russia, while guaranteeing payouts to their 7.7 million members, three people with knowledge of the matter said. The funds had been indirectly controlled by Otkritie Holding, the former parent of Otkritie bank. Once Russia’s largest private lender, it was rescued in August by the central bank, which was then lumbered with the three pension funds too. The Russian...

December 14, 2017
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